October 17, 2017
Joint investment in gas distribution company in Indonesia
Tokyo Gas Co., LTD Tokyo Gas Asia Pte. Ltd. Development Bank of Japan Inc.
Tokyo Gas Asia Pte., Ltd (President: Nobuhisa Kobayashi, "Tokyo Gas Asia"), a wholly owned subsidiary of Tokyo Gas Co.,LTD. (President: Michiaki Hirose, "Tokyo Gas") , and Development Bank of Japan Inc. (President: Masanori Yanagi, "DBJ"), through a newly established joint venture, have acquired 33% shares of gas distributor PT Panji Raya Alamindo (President: Agustinus Hendrayana, "PRA") , a subsidiary of PT Rukun Raharja Tbk (President: Djauhar Maulidi, "RAJA").
This is the third case for Tokyo Gas to invest in a local gas distribution company overseas, following its investments in Gas Malaysia Berhad in Malaysia in 1992, and Petro Vietnam Low Pressure Gas Distribution Joint Stock Company in Vietnam in July 2017.
In Indonesia, energy demands for industries and commerce are rapidly expanding due to its remarkable economic growth. By having long history and experiences in Japan, Tokyo Gas will be able to utilize its knowledge and human resources in participating in the gas distribution businesses in Indonesia, thus increasing PRA's business values.
Acquisition of the shares of PRA will contribute to the acceleration of overseas expansion which is targeted in Tokyo Gas Group's "Challenge 2020 Vision". By utilizing the "Special Investment Operations" that was partially funded by the Japanese government, DBJ decided to supply growth capital to support enhancement of competitiveness of Tokyo Gas and Japanese energy industry.
By applying technology and knowledge related to integrated energy business, Tokyo Gas Group will continue to serve by providing energy solutions to customers developing businesses and building local energy infrastructures in Southeast Asia and North America etc. In addition, Tokyo Gas Group will also strive to create regional energy
value chains through the alliances with local energy companies.
In line with our corporate philosophy - "Design the Future with Financial Expertise: Through the steadfast pioneering of financial frontiers, we aim to solve issues for our customers and society, and help realize sustainable development in Japan and the world." - Through Special Investment Operations, DBJ will continue to actively support customers' initiatives to development of markets for growth capital, the independent development of regional economies and sharper competitiveness.
【Investment and Aliance Scheme】
Tokyo Gas
100%
DBJ
Tokyo Gas Asia.
approx. 52%
approx. 48% ( Investment by preferred shares)
TG&D SINGAPORE INVESTMNENT HOLDINGS
33%
67%
RAJA
PRA
Picture from Closing Ceremony
From left, Mr. Hirozane(Managing Executive Officer of DBJ), Mr. Djauhar (President Director of RAJA), Mr. Kobayashi(Managing Director of TG Asia), Mr. Shukuya(Representative Director of TG&D)
【Summary of PT Panji Raya Alamindo】
Company Name | PT Panji Raya Alamindo |
President | Agustinus Hendrayana |
Established | May 2007 |
Headquarters | Indonesia |
Capital | USD 70.98 million |
Shareholders | RAJA (99.8%)、Odira (0.2%) |
Main Business | Gas distribution business、Gas transportation business |
Employees | 60 |
【Summary of PT Rukun Raharja Tbk】
Company name | PT Rukun Raharja Tbk |
President | Djauhar Maulidi |
Established | December 1993 |
Headquarters | Indonesia |
Capital | USD 91.49 million |
Shareholders | PT.SBM(29%)、SEL(17%)、BRL(12%)、Others(42%) |
Main Business | Energy distribution business |
Employees | 233 |
【Summary of Development Bank of Japan】
Company name | Development Bank of Japan Inc. |
President | Masanori Yanagi |
Established | October 2008 |
Headquarters | Japan |
Capital | JPY 1 trillion 424 million |
Shareholders | Minister of Finance 100% |
Main Business | Provision of integrated investment and loan services / consulting services |
Employees | 1,192 (As of March 2017) |
【Summary of Tokyo Gas Asia Pte. Ltd.】
Company name | Tokyo Gas Asia Pte. Ltd. |
President | Nobuhisa Kobayashi |
Established | December 2014 |
Headquarters | Singapore |
Shareholders | Tokyo Gas 100% |
Main Business | Investment and management throughout Southeast Asia supervision of the representative offices in Southeast Asia |
Employees | 15 (As of October 2017) |
Tokyo Gas Co. Ltd. published this content on 17 October 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 17 October 2017 05:04:01 UTC.
Original documenthttp://www.tokyo-gas.co.jp/Press_e/20171017-01e.pdf
Public permalinkhttp://www.publicnow.com/view/802D5A259D6F1BBA1973F0862FEB719F61A84103